Sometimes a question and call to a financial company can leave you feeling uneasy about getting ripped off. The newly-created Consumer Financial Protection Bureau was created to help consumers in this exact position.
Not only does the CFPB act as a watchdog for companies preying on consumers, it has created a consumer complaint database to increase corporate transparency and responsibility.
What Does It Mean … Full Article

Earlier this month, President Obama stopped by a Honeywell manufacturing plant in Golden Valley, Minn., to announce his new initiative designed to ease the transition for veterans entering the civilian workforce. Honeywell has hired hundreds of veterans across the nation since early 2011, making it the ideal place to highlight the administration’s efforts to help former service members find employment.
Calle… Full Article

Campus debit cards may appear to be an easy, low-cost solution to handling your finances while in college, but students should be aware that many of these cards carry excessive hidden fees. According to a report by the United States Public Interest Research Group (USPIRG), many of the banks behind these cards are taking advantage of students who need them in order to access their financial aid.
There are now … Full Article

On May 18, new legislation passed the House as part of the 2013 National Defense Authorization Act (NDAA) that would grant military homeowners the ability to refinance their mortgages even if they do not live in the residence at the time.
Thousands of military members have experienced the headache of being forced to PCS or deploy without being able to sell their home. The Fairness for Military Homeowners Ac… Full Article

Politicians on both sides of the aisle agree that deep cuts are essential to bring the federal budget under control. But they are still having trouble agreeing on how to implement the necessary reductions before next year.
The Budget Control Act (BCA) of 2011 requires the federal government to reduce spending by more than $1 trillion by 2021. This amounts to cutting about $109 billion from the budget each year… Full Article

Every year veterans play a waiting game to see if they'll receive a cost-of-living adjustment (COLA).
Congress has never failed to pass legislation to grant these increases. But keeping the adjustment in legislative limbo each year continues to rile veterans groups and some elected officials.
"Congress has routinely provided this increase, but it is an added step that confuses and leaves veterans feeling un… Full Article

Tax day is almost here, but if you are a service member or spouse of a service member, you may qualify for some extra time to file and pay your taxes.
As a final wrap-up to Smart Military Money's Tax Tips & Tricks series, here is a brief overview of tax extensions and how they can help military members and their families.
Applying for a Tax Extension
If you’re in the U.S. and need additional time t… Full Article

Service members who were involuntarily extended through “stop loss” now have another chance to apply for compensation.
The Department of Defense has extended the deadline for the Retroactive Stop Loss Special Pay Program to Oct 21, 2012. Service members, veterans and beneficiaries of service members who endured stop loss are eligible for $500 a month for each month they were not allowed to separate. The av… Full Article

When you look at your kid, sometimes it’s hard to imagine that they’ll grow up and consider going to college.
The good news is that most military families start saving for college early. According to a FINRA Investor Education Foundation survey, 52 percent of military respondents with financially dependent children have started saving for college. Here’s a quick look at two of the popular save-for-college op… Full Article

Having a college degree can make or break your future paycheck – so working toward a degree early is a smart move. Thanks to the American Council on Education (ACE) and its military programs, military personnel can actually receive college credit for their training outside the normal college setting.
It all began with the founding of ACE in 1942. The organization's primary goal was recognizing the educationa… Full Article

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